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Riskive Closes $2.2M Seed Round Led by Genacast Ventures and Core Capital

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Riskive Closes $2.2M Seed Round Led by Genacast Ventures and Core Capital Riskive, the Social Risk Management company, today announced it has secured $2.2 million in seed funding from Genacast Ventures (a fund formed in partnership with Comcast Ventures), Core Capital and a world-class group of individual investors. Riskive protects government and enterprise organizations from the next generation of security threats: Social Cyber Threats.

Angel investors participating in the round include Frank Bonsal (Founder of NEA) and serial entrepreneurs Greg Cangliosi, Bill Boyle and Andrew Eye, amongst others.

Social Risk Management is emerging as the next great security challenge for organizations which are being continually breached by a myriad of experienced attackers and hackers. Riskive's cloud-based technology platform is currently deployed in beta and leverages predictive analytics to protect against advanced cyber threats in multiple government and enterprise organizations.

"Social network technology and social media have proliferated into every aspect of business as well as our personal lives," said James C. Foster, CEO and Founder of Riskive. "Deploying a security solution based on predictive analytics to prevent attacks before they happen is the new standard for security. It's critical for organizations to understand the potential for malicious threats to invade into the core of a business via social streams. This type of invasion puts every aspect of a business at risk and has the capacity to entirely shut down an organization. With Riskive, organizations now have a constant ally to alert them in advance of these attacks.”

Riskive has assembled a proven team of over 12 security experts. This quickly growing team is continuing to enhance Riskive's proprietary cloud-based technology platform that is dedicated to identifying, monitoring and preventing risk across the socially connected enterprise. Riskive's security technology allows for real-time protection of users, applications and social brand assets.

"Riskive brings a first-mover advantage to the market because it identifies social-based threats before they have the opportunity to inflict serious damage,” said Gil Beyda, Founder and Managing Partner at Genacast Ventures. “Foster and Evan have worked together before and they have a proven track record. As enterprises embrace social media more and more, business entities are actively being targeted for their intellectual property. Riskive's ability to protect against current threats - as well as its advanced threat detection capabilities against future attacks - is a very compelling value proposition for us and will be critical for this emerging market.”

"The ‘social enterprise' era has arrived,” said Mark Levine, Managing Director, Core Capital. “Facebook, Twitter and LinkedIn are just a few of the great social tools that have emerged as a new vector leveraged by cyber criminals. Riskive was an attractive investment opportunity because of the technology, the team and tremendous advisory board it's assembled to fight against this emergence of social threats against not only consumers, but business and government entities."

Mission to Research & Develop Innovative Defense Technologies

“Our mission is to research and create innovative defense technologies aimed at protecting businesses and platforms throughout all social media platforms and channels,” said Evan Blair, Chief Operating Officer and Co-Founder of Riskive. “To prevent the next generation of cyber threats, we are determined to empower organizations with the ability to react before cyber attackers ever launch an attack.”

Riskive was selected as the winner of the 2013 Mid-Atlantic Venture Association Capital Connection TechBuzz show in Washington D.C., besting over 300 other early-stage companies. Additionally, Riskive was also named the ‘Incubator Company of the Year' for the state of Maryland in June 2013.

About Riskive

Riskive, the Social Risk Management Company, is a Baltimore, Maryland-based startup with a mission of protecting the social enterprise. Businesses and government organizations leverage Riskive's cloud-based technology and predictive analytics to identify and prevent malicious cyber attacks before they occur. Please visit: http://riskive.com/.

SOURCE: BUSINESS WIRE

©2014 Business Wire

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